Pune Stock Exchange

The Pune Stock Exchange (PSE), established in 1982, once served as a critical hub for trading equity shares of Maharashtra-based SMEs. At its peak in 2000, the exchange listed 354 companies, with daily turnover exceeding ₹50 crore. Regulatory challenges, including non-compliance with SEBI’s 2012 mandate on corporatization and demutualization, led to its closure in 2018. Analysts recommend studying PSE’s historical data to identify sectoral growth patterns in western India between 1995 and 2010.

PSE’s decline reflects broader consolidation trends. Only 13 regional exchanges remain operational nationally, down from 21 in 2005. Investors targeting regional exposure should prioritize BSE-listed SMEs, which grew 24% in market capitalization between 2021 and 2023. Direct access to PSE securities is obsolete, but NSE’s SME Emerge platform now hosts 462 companies, including 32 formerly listed on regional exchanges. Historical price data from PSE’s textile and engineering firms is accessible via SEBI archives for comparative analysis.

PSE members merged with BSE and NSE following the 2018 derecognition. Investors can replicate regional diversification through sector-specific ETFs, such as Motilal Oswal Nifty Smallcap 250, which allocates 18% to Maharashtra-based manufacturing firms. Brokerage firms like Geojit Financial Services offer archival research reports detailing PSE’s impact on Pune’s industrial GDP, which averaged 7.2% growth annually from 1990 to 2010 compared to India’s 5.9% average.